The full version is on Behind the Lines as usual but the digested read is:
Sunday, February 24, 2008
Not Black Wednesday yet
This weekend's column in the Newcastle Journal naturally focuses on the political fallout thus far from the Northern Rock nationalisation, announced a week ago today.
The full version is on Behind the Lines as usual but the digested read is:
Labour did the right thing nationalising the bank, although, driven by an irrational fear of the n-word, they took slightly too long to get there.
The Tories' response to the crisis has been confused from the start, as a result of which the party has failed to articulate a credible alternative.
The public's reaction thus far demonstrates that this has not been Labour's Black Wednesday, although there remain unanswered questions over Granite.
All in all, the whole episode ought to mark the end of our love affair with financial deregulation.
The full version is on Behind the Lines as usual but the digested read is:
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1 comment:
I think that more financial regulation could cost a lot more jobs and do more damage to the British economy than Northern Rock. Easy to say we need more regulation in hindsight, but I didn't hear anyone calling for it when Northern Rock was doing ok.
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